StatPro has added a global exposure and liquidity monitoring module to the StatPro Revolution App Store. The module is designed to help asset managers meet UCITS IV regulation and is the first in series of regulatory compliance solutions being developed for the StatPro Revolution portfolio analytics cloud platform.
The exposure and liquidity monitoring tool is priced on a per portfolio subscription basis and initially calculates risk using the value at risk methodology, although a version including calculation following the UCITS IV commitment approach will be added shortly. The tool allows a documented system of internal limits to be made and maintained, and includes a ‘traffic light’ system to indicate warnings and breaches of limits, as well as stress testing, back testing and daily risk reports.
StatPro Group CEO, Justin Wheatley, says: “The UCITS risk monitoring module is a breakthrough for fund managers that need to be UCITS IV compliant. Previously, UCITS risk monitoring was complicated and expensive. Now it is a plug and play solution at a great price.”
The solution has been in the market for three weeks and has so far attracted two European asset managers. While the focus of the exposure and monitoring module is on UCITS IV, Mario Zardoni, head of risk at StatPro, says it could also be used to monitor alternative investment funds or as a monitoring tool in US or Asian markets.
Zardoni joined StatPro in November 2011 to lead the company’s development of modules for regulatory compliance. While the UCITS IV solution is first to market, Zardoni is planning to release further compliance modules to StatPro Revolution, including a solution dedicated to the Alternative Investment Fund Managers Directive that should be available towards the end of this year.